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Bima Vitarak Manthan: IBAI wants Bima Vahaks to join brokers as point of sales person
Debasish Panda,chairman, IRDAI At the recently concluded Bima...
Remal weakens into cyclonic storm, expected to move northeastwards: IMD
Scenes of widespread devastation were evident across West Bengal's...
Miller launches new exclusive Professional Indemnity product for freelance solicitors
Ed Pickard, Head of UK Professions, commented: “This new product will enable Miller to support freelance solicitors in accessing the coverage they need to operate. Our team of solicitors’ PI insurance specialists are excited to be able to offer this to our expanding portfolio of clients, and would encourage solicitors to get in touch to learn how Miller can find them the competitively priced cover they need to protect against claims and meet the requirements of the regulator.”
IRDAI imposes Rs 30 lakh penalty on SBI General Insurance
SBI General Insurance Company had underwritten Rs 316.36 crore as against the minimum obligatory MTP insurance business of Rs 638.34 crore resulting in a shortfall of Rs 321.98 crore. In percentage terms, the shortfall worked out to be around 50.44 per cent of MTP insurance obligation.
EU regulator to test insurers for prolonged COVID economic hit
The European Insurance and Occupational Pensions Authority (EIOPA) said it will test 44 insurers and reinsurers for their resilience to the economic consequences of the pandemic and a “lower for longer” interest rate landscape.
Insurers are exposed to the economic environment through the returns they can earn from investing insurance premiums, as well as from the level of demand for their products.
“We are still in the middle of the crisis,” EIOPA Executive Director Fausto Parente told a media conference.
“The insurance sector is for sure not immune.”
Medi Assist Healthcare Services files IPO papers with Sebi
Those selling shares in the offer for sale include Dr Vikram Jit Singh Chhatwal, Medimatter Health Management, Bessemer India Capital Holdings II Ltd, Bessemer Health Capital LLC and Investcorp Private Equity Fund I.
As per the draft papers, the company managed Rs 7,829.5 crore of health insurance premiums for the financial year 2020.
For the nine month ended December 2020, the company reported a total income of Rs 257.44 crore against Rs 245.16 crore a year ago. Its profit after tax was at Rs 33.09 crore for the nine months ended December 2020 as compared to Rs 31.04 crore in the same period last year.
India’s seven-day COVID average at new high, WHO issues warning on strain
India’s daily coronavirus cases rose by 329,942, while deaths from the disease rose by 3,876, according to the health ministry. India’s total coronavirus infections are now at 22.99 million, while total fatalities rose to 249,992.
AXA XL appoints Anish Jadav as CUO, Retail P&C, UK & Lloyd’s market
In his new role, Jadav will be responsible for developing and executing AXA XL’s Retail P&C underwriting strategy and optimising product offering and profitability.
Moody’s upgrades outlook for global aviation industry to ‘positive’
“While the continuing pandemic means there is a risk of further disruption to air travel in various countries at various times, we expect an increase in vaccinations to lower border restrictions and increase demand for air travel over the next 12 to 18 months,” Moody’s said in a note today.
Govt asks to states to take on preventive measures to curb the spread of Covid in rural India
To provide real-time information on availability of testing/vaccination centers, doctors, hospital beds etc. to rural citizens, the Ministry has advised state governments to leverage available IT infrastructure like Panchayat offices, Schools, Common Service Centers etc.
Cloudburst hits Devprayag in Uttarakhand
A number of shops in the Dashrath Danda Parvat area of Devprayag were also damaged in the cloudburst, the SHO said.
No judicial interference needed in Covid-19 vaccine policy: Centre tells SC
The affidavit added that the new ‘Liberalized Pricing and Accelerated National Covid-19 Vaccination Strategy would further ramp up the pace of COVID-19 vaccination.”